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Economic incentives for tourists: Evaluating a regional policy measure 对游客的经济激励：评估一项地区政策措施
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2024-01-10 DOI: 10.1177/13548166241227463
Roberto Cellini, Tiziana Cuccia
{"title":"Economic incentives for tourists: Evaluating a regional policy measure","authors":"Roberto Cellini, Tiziana Cuccia","doi":"10.1177/13548166241227463","DOIUrl":"https://doi.org/10.1177/13548166241227463","url":null,"abstract":"This Note examines the effectiveness of a regional policy centered around offering discounted vouchers to tourists. It specifically studies the case of Sicily, which, unlike other Italian regions, implemented this policy between 2021 and 2023 in response to the aftermath of the COVID-19 shock. Difference-in-differences estimates reveal that this intervention has failed to significantly affect tourism.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"68 8","pages":""},"PeriodicalIF":4.4,"publicationDate":"2024-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139440905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Digital financial inclusion and domestic tourism demand: Through the lens of spatial spillover 数字普惠金融与国内旅游需求：从空间溢出的角度看
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2024-01-05 DOI: 10.1177/13548166231224578
Yanzhao Li, Ju-e Guo, Wenjun Zhu
{"title":"Digital financial inclusion and domestic tourism demand: Through the lens of spatial spillover","authors":"Yanzhao Li, Ju-e Guo, Wenjun Zhu","doi":"10.1177/13548166231224578","DOIUrl":"https://doi.org/10.1177/13548166231224578","url":null,"abstract":"Domestic tourism demand has dominated the global tourism market and has been more resilient during the COVID-19 pandemic; yet, it is under-studied compared to international tourism demand. Digital financial inclusion (DFI) enables the provision of formal financial products and services to small and medium-sized tourism enterprises and tourists through cost-effective digital means, potentially boosting domestic tourism demand. Integrating micro- and macro-level data from 335 prefecture-level regions in China, we investigate the impact of DFI on domestic tourism demand using spatial panel models. Our analysis reveals significant and positive effects, both direct and spillover, of DFI on domestic tourism demand within a region and across regions. Notably, among the three dimensions of DFI, the usage depth exhibits the most substantial spillover effects. Furthermore, our findings also highlight the crucial role of DFI in internalizing domestic tourism revenues. Our study provides practical implications for sustainable domestic tourism development in the digital era.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"38 34","pages":""},"PeriodicalIF":4.4,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139382526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does climate policy uncertainty influence corporate cash holdings? Evidence from the U.S. tourism and hospitality sector 气候政策的不确定性会影响企业现金持有量吗？来自美国旅游业和酒店业的证据
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2024-01-03 DOI: 10.1177/13548166231224561
Lei Zhang, Jing Gao
{"title":"Does climate policy uncertainty influence corporate cash holdings? Evidence from the U.S. tourism and hospitality sector","authors":"Lei Zhang, Jing Gao","doi":"10.1177/13548166231224561","DOIUrl":"https://doi.org/10.1177/13548166231224561","url":null,"abstract":"We examine the influence of climate policy uncertainty (CPU) on corporate cash holding decisions of U.S. tourism and hospitality firms. We find that CPU is negatively associated with corporate cash holdings for tourism and hospitality firms in the United States. A further analysis indicates that the impact of CPU on cash holdings lasts 2 years and disappears afterward. We also show that CPU is negatively associated with corporate cash holdings for hotel firms, but its impacts on airline, restaurant, and casino firms are insignificant. Results from cross-sectional analyses show that financial constraints and climate risk exposure moderate the relationship between CPU and corporate cash holdings. Our main findings are insensitive to additional robustness tests, including an instrumental variable test and subsample analyses. Our results have timely implications for academics, investors, and regulators.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"31 14","pages":""},"PeriodicalIF":4.4,"publicationDate":"2024-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139389342","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Importing to feed international tourists: Growth implications for islands across the globe 进口以满足国际游客的需求：对全球岛屿增长的影响
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-29 DOI: 10.1177/13548166231224012
F. Baidoo, Lei Pan, V. Fiador, E. Agbloyor
{"title":"Importing to feed international tourists: Growth implications for islands across the globe","authors":"F. Baidoo, Lei Pan, V. Fiador, E. Agbloyor","doi":"10.1177/13548166231224012","DOIUrl":"https://doi.org/10.1177/13548166231224012","url":null,"abstract":"The expansion of inbound tourism among global islands, amidst relatively inadequate supporting tradable goods, potentially triggers high merchandise imports, resulting in an indeterminate impact on economic growth. Employing fixed and random effects estimation techniques on five-year-non-overlapping-averaged data, covering 1980 through 2019, this study, firstly, investigates the potential bi-causal relationship between inbound tourism and merchandise imports, in the case of 45 sovereign islands. The economic growth implication of a concurrent pursuit of tourism expansion and merchandise imports is also examined. The study further investigates how over-reliance on imported merchandise to feed international tourists, and over-specialisation in the tourism sector, affect the tourism-led-growth hypothesis in the case of these islands. Results from the study show that an increase in inbound tourism significantly leads to an increase in merchandise imports, and vice versa. Also, importing merchandises to sustain inbound tourism is significantly observed not to be detrimental to economic growth. However, results further reveal that over-reliance on imported merchandises to sustain inbound tourism, as well as over-specialisation in tourism with the help of imported merchandises, both exert significant detrimental net effects on economic growth. The findings hold policy guidelines for the pursuit of tourism-led and merchandise-import-led growth strategies among global islands.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" 25","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139144558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How to achieve economic development through tourism? Different ways for different economies: A new approach through fuzzy set qualitative comparative analysis 如何通过旅游业实现经济发展？不同的经济体有不同的方法：通过模糊集定性比较分析的新方法
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-21 DOI: 10.1177/13548166231222668
José Luis Durán-Román, Julio Vena-Oya, J. M. Núñez-Tabales, Francisco José Rey-Carmona
{"title":"How to achieve economic development through tourism? Different ways for different economies: A new approach through fuzzy set qualitative comparative analysis","authors":"José Luis Durán-Román, Julio Vena-Oya, J. M. Núñez-Tabales, Francisco José Rey-Carmona","doi":"10.1177/13548166231222668","DOIUrl":"https://doi.org/10.1177/13548166231222668","url":null,"abstract":"Policy makers and tourism investors have a limited vision of how a certain level of tourism development is possible depending on country-specific conditions such as incomes and competitiveness factors. In this context, the aim of this research is to identify different strategies or solutions, based on different drivers of tourism competitiveness, that lead to tourism development in countries with different levels of per capita income. To this end, the Travel & Tourism Development Index will be used to answer the research questions raised. This paper proposes the use of an alternative methodology such as fuzzy set Qualitative Comparative Analysis (fsQCA). As a result, a total of eight different strategies which lead to tourism development have been identified for the different categories considered, identifying the key drivers to achieve such development for the different economies.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"97 3","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138951292","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How smart city construction affects destination tourism efficiency 智慧城市建设如何影响目的地旅游效率
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-14 DOI: 10.1177/13548166231221849
Lijun Ma, Cong Liu, Yong Zhan
{"title":"How smart city construction affects destination tourism efficiency","authors":"Lijun Ma, Cong Liu, Yong Zhan","doi":"10.1177/13548166231221849","DOIUrl":"https://doi.org/10.1177/13548166231221849","url":null,"abstract":"To investigate the impact of smart city construction (SCC) on destination tourism efficiency (TE), this study analyzed the impact paths and mechanisms of SCC on destination TE from 3 aspects: technological innovation, informatization, and industrial structure upgrading. Based on panel data of Chinese prefecture-level cities from 2004–2019, we combined a stochastic frontier analysis model with a difference-in-differences model to conduct an empirical analysis to assess the policy effects of SCC on destination TE and validate the impact paths and mechanisms. The results show that the tourism of 153 sample cities show a low TE level overall, an increasing trend year by year, a distribution pattern of high in the east, and low in the middle and west. SCC can significantly improve destination TE, and the impact of SCC on destination TE has spatially heterogeneous.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"18 4","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138971876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Real estate investment trusts during market shocks: Impact and resilience 市场震荡期间的房地产投资信托基金：影响和复原力
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-07 DOI: 10.1177/13548166231219740
Apostolos Ampountolas, Mark Legg, Gareth Shaw
{"title":"Real estate investment trusts during market shocks: Impact and resilience","authors":"Apostolos Ampountolas, Mark Legg, Gareth Shaw","doi":"10.1177/13548166231219740","DOIUrl":"https://doi.org/10.1177/13548166231219740","url":null,"abstract":"The market value of a stock is a function of firm performance and market sentiment. Specific events can alter returns and present several challenges to market performances. Through an event study design, this study examines five real estate investment trusts (REITs) market indices’ responses to market shock from the initial COVID-19 outbreak. The results revealed negative cumulative abnormal returns for lodging, health care, and retail REITs over the 20-day trading window. Considering their lower drawdown losses, the remaining REIT sectors showed greater resilience than their counterparts. Block bootstrapping confirmed the returns were significantly worse for all sectors, with retail and lodging sectors having the poorest returns. This study advances the literature on pandemic-related market crashes along with how COVID-19 affected cross-sector REIT equities compared to other market indices. REIT firms can use the findings to develop more effective policy measures as responses to pandemic market conditions.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"16 8","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138592640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Walk your reputation: The impact of corporate social responsibility decoupling on the hospitality and tourism firm value in the time of crisis 走好声誉之路危机时刻企业社会责任脱钩对酒店和旅游公司价值的影响
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-05 DOI: 10.1177/13548166231220286
Kewen Wang, Yongqi Yu, Xin Wang, Haidong Zheng
{"title":"Walk your reputation: The impact of corporate social responsibility decoupling on the hospitality and tourism firm value in the time of crisis","authors":"Kewen Wang, Yongqi Yu, Xin Wang, Haidong Zheng","doi":"10.1177/13548166231220286","DOIUrl":"https://doi.org/10.1177/13548166231220286","url":null,"abstract":"A growing body of research has tested the protective effect of pre-COVID-19 CSR reputation or during-COVID-19 CSR action for hospitality and tourism firms but has obtained inconclusive results. These inconclusive results may have been because of the decoupling of during-COVID-19 CSR action from pre-COVID-19 CSR reputation. From the perspective of institutional theory, we use a sample of Chinese hospitality and tourism listed firms during the COVID-19 pandemic and a cluster-adjusted panel data regression with robust standard errors to reveal that the decoupling of a firm’s during-COVID-19 CSR action from its pre-COVID-19 CSR reputation negatively impacts firm value, and the negative impact is amplified for firms under stronger stakeholder scrutiny. Our findings could contribute to institutional theory by proving that decoupling is under close stakeholder scrutiny during crises and by identifying a specific type of CSR decoupling, and could offer practical implications for firms to protect their firm values during crises.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"130 37","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138599265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Unravelling the effects of disruptive crises on residents’ support for tourism. Lessons from COVID-19 揭示破坏性危机对居民支持旅游业的影响。COVID-19 的经验教训
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-01 DOI: 10.1177/13548166231219038
Jorge Arnanz, Vicente Ramos, J. Rey-Maquieira, A. Untong
{"title":"Unravelling the effects of disruptive crises on residents’ support for tourism. Lessons from COVID-19","authors":"Jorge Arnanz, Vicente Ramos, J. Rey-Maquieira, A. Untong","doi":"10.1177/13548166231219038","DOIUrl":"https://doi.org/10.1177/13548166231219038","url":null,"abstract":"Residents’ behaviour towards tourism could be affected by a major crisis such as the recent pandemic. In this context, we evaluate how specific elements, such as residents’ characteristics, perceptions on specific origins, and the development of alternative tourism activities and segments need to be considered in this analysis. The Social Exchange Theory is used as a conceptual framework, and the empirical analysis is done for Bangkok, a grand urban tourism destination. Our results indicate that residents are aware of the potential trade-off between economic prosperity and health concerns, and that they have a different perception towards tourists from different origins. Additionally, locals were more concerned about health considerations than foreigners. The findings and the conceptual framework can serve as guidelines for tourism organisations and authorities managing urban destinations in times of crises.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" 24","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138620392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How do strategic pricing approaches influence franchise fee decisions? 战略定价方法如何影响特许经营费决策？
IF 4.4 3区 管理学
Tourism Economics Pub Date : 2023-12-01 DOI: 10.1177/13548166231218766
Kyung-A Sun, Seoki Lee
{"title":"How do strategic pricing approaches influence franchise fee decisions?","authors":"Kyung-A Sun, Seoki Lee","doi":"10.1177/13548166231218766","DOIUrl":"https://doi.org/10.1177/13548166231218766","url":null,"abstract":"In the franchising market, transactions involve franchisees paying franchisors for the right to use their business models. In such transactions, the franchise fee functions as the transaction price, which is a critical component of profitability and the long-term survival of franchise brands. Based on Ohmae’s 3Cs (i.e., cost, competition, and customers) model, this study investigates how strategic pricing approaches influence franchise fees. The empirical results suggest that franchise fees are influenced by the cost-based and the value-based approaches but not by the competition-based approach. Furthermore, among the approaches, the cost-based approach is found to have the greatest impact on the franchise fee, followed by the value-based and the competition-based approaches, respectively. Additional analysis found that the different pricing approaches are used depending on the business characteristics. By delineating the pricing mechanism of the franchise fee, these findings contribute to the literature on franchising in the hospitality industry, strategic management, and marketing and have important implications for industry practitioners.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"103 2","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138608982","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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